May 16, 2012 1:05 PM

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Govt takes measures to lower transaction cost for Indian exports

The government has taken many measures to lower the transaction cost for Indian exports in a bid to make them more competitive in the global market. In a written reply in the Rajya Sabha today, Minister of State for Commerce and Industry Jyotiraditya Scindia informed that a task force on the transaction cost in exports has made 44 recommendations, out which 23 have been implemented. It reduced the transaction cost to the extent of 2100 crore rupees in continuity. The Minister said that one of the thrust areas of the government is to widen the scope of Electronic Data Interchange activities which minimises human interface and thus increases transparency, efficiency and reduces transaction cost in terms of money and time.

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